NatWest loan holiday

RobboBTC33

Natwest have confirmed that my credit will be impacted if I take a payment holiday. So, in essence are they actually helping with this current crisis? Not really, as the knock impact will adversely effect future loan and mortgage applications/rates etc. Poor show if you ask me. Why not just add that 3 months worth of payments onto the loan amount to be repaid?

Fx777

There may be some news on this by Thurs 9th April. The FCA have said customers who request loan repayment breaks for 3 months (as well as credit card and overdrafts) should not be adversely affected by that request (ie it musn't affect your credit rating) so NatWest would seemingly need to change the way in which these requests are handled following that FCA instruction.  So i'd suggest try 10th April and by then the ruling should have come into effect and NatWest shouldn't be saying that any longer.

centurion_36

Nationwide gave me 3 month payment holiday. The letter they sent me states that they will take a required payment of £1per month credit reference agencies wont be informed that payments are in arrears

TripleH

It sounds like a case of different levels of proactivity(?) from different lenders. NatWest, whilst they have (probably) done nothing wrong at the time of posting this have not been as proactive for whatever reason as other lenders (who appear to be going above their requirements if what has been reported is correct). There may be confusion between requirement and expectation that may well be to the detriment of NatWest in the future. Strange times we live in?